The new agreement that includes involvement from the United Arab Emirates and consists of electricity and water is considered to be the largest agreement the two nations have signed in almost 30 years.

Since signing a peace agreement in 1994, Israel and Jordan have cooperated in various diplomatic and economic ways. On Monday, however, the two countries signed an agreement of historic proportion pertaining to water and energy. The deal was signed at the expo currently taking place in Dubai, UAE – the country responsible for facilitating the deal.

In essence, the new deal, which is hailed as the greatest agreement to take place between Israel and Jordan since 1994, has paved the way for Jordan to provide a new source of electricity to Israel via a soon-to-be constructed solar power plant. And in return, Israel will be sending clean water to Jordan. A firm from the UAE will be building the plant in Jordan.

Israeli Energy Minister Karine Elharrar stated, “The benefit of this agreement is not only in the form of green electricity or desalinated water, but also the strengthening of relations with the neighbor that has the longest border with Israel.”

Elharrar also said, “All residents of the Middle East will benefit from this memorandum of understanding, not just Jordan and Israel.”

According to reports, Jordan is to produce 600 megawatts of renewable energy for the Jewish State, while Israel is to provide 200 million cubic meters of water for Jordan.